Xinhua Finance Limited (TSE: 9399) names new ratings business head

Xinhua Finance Limited (TSE: 9399) names new ratings business head

October 11, 2007

    SHANGHAI, Oct. 11 /Xinhua-PRNewswire/ -- Xinhua Finance
Limited ("XFL"; TSE: 9399; OTC ADRs: XHFNY),
China's premier financial information and media services
provider, today announced it has appointed Dr. Chen
Chung-Hsing as head of its Ratings Service Line. He also
takes a position as vice-chairman of Shanghai Far East
Credit Rating ("SFE"), a Chinese credit ratings
agency and an affiliated company of Xinhua Finance since
2005. Dr. Chen joins XFL from Bank of Overseas Chinese
Leasing Co. in Taiwan where he was chairman and president.
He has strong experience as a regulator, academician and
senior executive at various leading financial
institutions.

    (Logo:
http://www.xprn.com.cn/xprn/sa/200611140926-min.gif )

    Photo link of Dr. Chen:
http://www.xinhuafinance.com/assets/images/Dr-Chen/

    Dr. Chen's expertise in ratings is evidenced by his
establishment in 1997 of Taiwan Ratings Corporation (TRC),
Taiwan's first ratings agency, now 51% controlled by
Standard and Poor's, and in 2001 his pioneering effort as
one of the founding members of the Asian Association of
Credit Rating Agencies (ACRAA) . Within four years of their
launch, TRC's ratings were recognized by 90% of the
financial institutions in Taiwan and endorsed by related
local government bureaus. Dr. Chen served as president and
chief executive officer of TRC from founding until 2003.
Following that, he worked in various senior executive
positions at leading financial conglomerate Fuhwa,
including president of its financial consulting group,
chairman of its asset management company and president of
its commercial bank. In 2005, he joined the Bank of
Overseas Chinese Leasing. 

    In his new roles, Dr. Chen will be responsible for
strengthening Xinhua Finance's capabilities in providing
ratings assessments and opinions on Chinese companies and
sectors to financial institutions. Dr. Chen possesses
extensive expertise in the financial services sector,
particularly in fixed income and credit. Throughout his
career, he has been instrumental in promoting the
development of Taiwan's bonds and futures markets,
furthering financial policy research and strengthening the
operations of the various top institutions for which he has
served. 

    XFL CEO Ms. Fredy Bush said, "We are pleased to be
joined by Dr. Chen Chung-Hsing, whose leadership in Taiwan's
credit markets and pioneering spirit are a perfect
supplement to Xinhua Finance's own endeavors. His expertise
will be of special importance to Xinhua Finance as we
continue to roll out and refine ratings and research
offerings that are fashioned to meet the evolving
conditions in China's bond and credit markets."  

    Dr. Chen will oversee the further integration of Xinhua
Finance and Shanghai Far East, as ratings committee head of
their collaborative ratings venture, Xinhua Far East China
Ratings ("XFE"). He will play a key role in
shaping both SFE and XFE's macro-economic views in China
and expanding its research and commentary on the country's
rapidly growing sectors and individual companies. He is
appointed to advance the company's efforts in undertaking
strategic initiatives that promote market transparency and
efficiency in China amidst the backdrop of its liberalizing
credit markets.  

    Dr. Chen said, "It is a pleasure to join Xinhua
Finance, an organization that has worked to improve
information disclosure practices in China. The ratings
processes and analytic framework of Xinhua Finance,
developed through the collaborative venture Xinhua Far
East, are well-grounded in international standards. XFE's
competitive advantage lies in its ability to derive
independent, objective and forward-looking ratings
assessments and timely updates, which are based on Xinhua
Finance's comprehensive economic and corporate data." 
 

    As of the second quarter of 2007, Xinhua Far East has
provided ratings based on public information for 107 of
China's largest domestically and overseas-listed
corporations. XFE aims to provide a definitive stance on
the credit profile of Chinese securities issuers, enabling
market participants to model the risks of investment or
lending. XFE specializes in issuing national scale ratings
to provide greater differentiation among issuers within
China, regardless of the country ranking on a global basis.


    Other positions Dr. Chen has held include president of
Taiwan's Securities & Futures Institute, general
counsel at Taiwan's Securities and Exchange Commission and
associate professor at the Graduate School of Risk
Management and Insurance of National Chengchi University.
He was also very active in promoting standards for just,
efficient and sound capital markets in developing
countries, including China, while chairing various
committees of the International Organization of Securities
Commissions (IOSCO). Dr. Chen holds a doctorate in the
science of jurisprudence from Southern Methodist
University.  

    About Xinhua Finance Limited

    Xinhua Finance Limited ("XFL") is China's
premier financial information and media service provider
and is listed on the Mothers Board of the Tokyo Stock
Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China's
financial markets and the world, Xinhua Finance's
proprietary content platform, comprising Indices, Ratings,
Financial News, and Investor Relations, serves financial
institutions, corporationsand re-distributors worldwide.
Through its subsidiary Xinhua Finance Media Limited
(Nasdaq: XFML), XFL leverages its content across multiple
distribution channels in China including television, radio,
newspaper, magazine and outdoor media. Founded in November
1999, XFL is headquartered in Shanghai, with offices and
news bureaus spanning 11 countries worldwide.  For more
information, please visit http://www.xinhuafinance.com .


    For more information, please contact:
 
     Xinhua Finance
      Hong Kong/Shanghai
      Ms. Joy Tsang
      Tel:   [phone]
             [phone]
             [phone]
      Email: [e-mail]

     Taylor Rafferty (Media/IR Contact)
      Japan 
      Mr. James Hawrylak
      Tel:   [phone]
      Email: [e-mail]

      United States
      Mr. John Dudzinsky
      Tel:   [phone]
      Email: [e-mail]